VN, Russia to boost trade cooperation
VN, Russia to boost trade cooperation
The Association of Vietnam Retailers (AVR) on Tuesday organised the Viet Nam-Russia Trade Connection programme introducing Russian products in Ha Noi.
According to AVR’s representative Nguyen Viet Linh, since Viet Nam-Eurasian Economic Union Free Trade Agreement (VN-EAEU FTA) was signed in 2015 and came into force in 2016, bilateral trade exchanges between Viet Nam and Russia recorded positive growth.
In 2018, trade turnover between the two countries increased by 28.63 per cent compared to 2017. Export from Russia to Viet Nam in 2018 reached US$ 2.1 billion, up 53.38 per cent year-on-year.
In the field of investment, in 2018, Russia ranked 24th out of 129 countries and territories investing in Viet Nam, with 123 projects and a total registered capital of $932 million. On the contrary, Viet Nam has also had 22 investment projects in Russia with a total of new capital and increased capital of nearly $3 billion.
AVR Chairman Dinh Thi My Loan emphasised this is an opportunity for enterprises to exchange and seek business opportunities and effective investment cooperation. Therefore, the active participation of Russian businesses shows great interest in the Vietnamese market - a potential and highly developing economy in the region.
The event also gives businesses the opportunity to promote bilateral trade, contributing to the overall development of the two economies Viet Nam – Russia, Loan added.
The programme attracted 13 Russian businesses featuring the typical Russian products such as sausages, bacon, salami, mashed potatoes, Russian kvass, dried fruits, nuts, muesli, coffee , confectionery, ice cream, beer and soft drinks, and natural cosmetics.
Taking part were about 100 delegates, including representatives of State management agencies, Russian production and supply enterprises, and retail distribution and import-export enterprises in Viet Nam, Russian Trade Representative Offices in Viet Nam and Russian Export Centre.
Ilya Bolarsky, representative of the beverage production company Chernogolovka, said through this programme, the company has displayed and introduced fresh water, mineral water and organic water produced in modern processes. The company has also asked to cooperate with Hanoi Trade Corporation (Hapro) to export these products to Vietnamese market.
After the programme, the delegation also visited and worked with a number of large supermarkets in Ha Noi to enhance trade connectivity between the two countries.
The event was organised on the occasion of the 25th anniversary of the signing of the Treaty on fundamental principles of Viet Nam – Russia friendship in 2019 and towards the 70th anniversary of the establishment of Viet Nam-Russia diplomatic relations in 2020.
It was held by AVR in cooperation with Development Agency BRICS in Russia.
